XML 23 R3.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements Of Operations - USD ($)
shares in Millions, $ in Millions
 4 Months Ended 8 Months Ended 12 Months Ended
Apr. 30, 2021
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income Statement [Abstract]        
Total operating revenues $ 397.4 $ 835.0 $ 1,427.2 $ 2,053.2
OPERATING EXPENSES        
Contract drilling (exclusive of depreciation) 343.8 728.7 1,470.4 1,807.8
Asset Impairment Charges 756.5 0.0 3,646.2 104.0
Depreciation 159.6 66.1 540.8 609.7
General and administrative 30.7 58.2 214.6 188.9
Total operating expenses 1,290.6 853.0 5,872.0 2,710.4
Other Operating Income 0.0 0.0 118.1 0.0
EQUITY IN EARNINGS (LOSSES) OF ARO 3.1 6.1 (7.8) (12.6)
OPERATING LOSS (890.1) (11.9) (4,334.5) (669.8)
OTHER INCOME (EXPENSE)        
Interest income 3.6 28.5 19.7 28.1
Interest expense, net (2.4) (31.0) (290.6) (428.3)
Reorganization Items (3,584.6) (15.5) (527.6) 0.0
Other, net 25.9 38.1 16.0 1,006.2
Other income (expense), net (3,557.5) 20.1 (782.5) 606.0
INCOME (LOSS) BEFORE INCOME TAXES (4,447.6) 8.2 (5,117.0) (63.8)
PROVISION FOR INCOME TAXES        
Current income tax expense 34.4 58.7 (153.7) 104.5
Deferred income tax expense (benefit) (18.2) (21.3) (105.7) 23.9
Total provision for income taxes 16.2 37.4 (259.4) 128.4
NET LOSS (4,463.8) (29.2) (4,857.6) (192.2)
NET (INCOME) LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS (3.2) (3.8) 2.1 (5.8)
NET LOSS ATTRIBUTABLE TO VALARIS $ (4,467.0) $ (33.0) $ (4,855.5) $ (198.0)
LOSS PER SHARE - BASIC AND DILUTED        
Continuing operations $ (22.38) $ (0.44) $ (24.42) $ (1.14)
WEIGHTED-AVERAGE SHARES OUTSTANDING        
Basic and Diluted 199.6 75.0 198.9 173.4